Premier League clubs broke the transfer record with an expenditure of £ 1.9 billion

Premier League clubs broke the transfer record with an expenditure of £ 1.9 billion

Premier League clubs broke the transfer record with an expenditure of £ 1.9 billion

According to finance company Deloitte, the new owners and improved broadcasting arrangements have prompted Premier League clubs to break the transfer spending record for one season only in the summer window.

Gross spend this summer reached £ 1.92 billion, surpassing the record of £ 1.86 billion for summer and January windows combined in the 2017-18 season.

It was also the first net spend of £ 1 billion in a single window and Tim Bridge, principal partner of Deloitte’s Sports Business Group, told the PA news agency: “This is truly remarkable.

SOCCER Finance Transfers

SOCCER Finance Transfers

“If we were back in the early summer I don’t think many of us would have expected it at this level, but I think there are a number of factors that have guided it.

“As we come out of the Covid-19 pandemic, I think clubs have a little more security, we have just entered a new round of broadcast, which means those clubs know exactly what they will generate, we have the fans go back to the stadiums. , which provides more money available to clubs.

“And we also have a wave of new owners, and what we saw at Chelsea really pushed the market forward. You have to look at these things in the sense that it creates a domino effect, as one club in the Premier League spends, then another will.

“It really marks a record point where Premier League clubs are. Going over one billion net is really an indicator of how crucial it is to acquire player talent for business models, particularly at the top end of the Premier League. “

It is understood that total club spending this summer amounted to 32% of revenue, only a slight increase from 30% in the summer of 2017.

Chelsea, under the new ownership group led by Todd Boehly, have spent £ 255.3 million on the likes of Wesley Fofana, Marc Cucurella, Raheem Sterling and Kalidou Koulibaly.

They were £ 53.3m more than the next biggest spenders: Manchester United with £ 202m while Antony, Casemiro and Lisandro Martinez were all featured in their top 10 most expensive signings of all time.

Manchester City’s Erling Haaland, Newcastle Alexander Isak and West Ham’s Lucas Paqueta were an additional £ 50m, even though City were one of five clubs to make a net profit in the window.

The newly promoted Nottingham Forest posted a gross spend of £ 126 million with the entry of 21 astonishing new players.

Bridge added: “I think it’s really interesting, this time around last year they were pretty much bottom of the standings after a pretty bad start.

“Within the league, the difficult financial situation of many clubs means that many teams are made up of players on loan or on short-term contracts.

Nottingham Forest reunites before the match at Everton

It’s a new team from Nottingham Forest (Peter Byrne / PA)

“With Nottingham Forest having that next run and being promoted through the play-offs, this still gives them less time in the transfer window, but they clearly believe the best way to safeguard their future – and future income – is to do so. to spend a lot on the transfer market.

“Obviously this entails a significant risk, gelling a team on short notice, but also financial responsibility for the entire contract period.”

The previous record summer of 2017 saw expenditure of £ 1.43bn, with another £ 430m in January 2018 and again a significant winter outlay seems likely, particularly with a midseason World Cup showcase. .

That would mean the first gross spend of £ 2bn for a season and Bridge said: “We really could be ready for a pretty bumper year, to say the least.”

Leave a Reply

Your email address will not be published.